TORONTO, ONTARIO -- (Marketwired) -- 07/02/13 -- Carlaw Capital IV Inc. ("Carlaw" or the "Corporation"), a capital pool company, is pleased to announce that it has entered into an agreement with Mortgage Company of Canada Incorporated ("MCOCI"), pursuant to which Carlaw will acquire a portfolio of residential mortgages currently administered by MCOCI (the "Proposed Transaction").
The Proposed Transaction is subject to a number of terms and conditions as set forth in the agreement including the approval of the TSX Venture Exchange (the "TSXV"). When completed, the Proposed Transaction will constitute Carlaw's qualifying transaction pursuant to the policies of the TSXV. A comprehensive press release with further particulars relating to the Proposed Transaction will follow in accordance with the policies of the TSXV.
ABOUT MORTGAGE COMPANY OF CANADA INCORPORATED
MCOCI is currently the administrator of a portfolio of residential mortgages on properties located in Ontario held by a number of third party investors. Upon completion of the Proposed Transaction, it is intended that Carlaw will qualify as a "mortgage investment corporation" for the purposes of the Income Tax Act (Canada).
ABOUT CARLAW CAPITAL IV INC.
Carlaw is a capital pool company ("CPC") formed under the TSXV CPC program.
Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a CPC should be considered highly speculative.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
Carlaw Capital IV Inc.
CEO, CFO and Corporate Secretary
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